Glasgow is at the centre of one the UK’s largest and most successful city regions. Scotland’s largest city and only metropolitan region generated £41.4 billion GVA in 2017.
Glasgow has experienced economic growth and development in recent years, bolstered by careful planning, a growing and young population, and business growth in high-tech and service sectors.
Launched in 2016, the current Glasgow Economic Strategy is building on this success and aiming to make Glasgow the most productive major city economy in the UK by 2023. Alongside this, the strategy has set an ambitious new jobs target of 50,000 by 2023.
Glasgow is actively attracting the right mix of business, productivity, innovation and investment to the city. Supported by initiatives such as the Glasgow City Region City Deal, the city is building on its excellent infrastructure to be one of the most diverse and forward-thinking cities in Europe. Glasgow is globally competitive in a number of sectors:
- Digital Technology
- Finance and Business Services
- Creative Industries
- Low Carbon
- Health and Life Sciences
- Engineering Design & Advanced Manufacturing
- Tourism and Events
- Higher and Further Education
Glasgow is at the centre of Scotland’s largest urban economy and is one of the fastest growing cities in the UK. It stands to capitalise on strong economic growth and continued development of its varied business sectors.
Glasgow has the second fastest growing level of productivity of the UK’s Core Cities. According to the latest figures, Glasgow produced £29.50 of GVA per hour worked and £47,513 of GVA per job filled in 2015.
A primary objective of Glasgow’s economic strategy is to significantly increase in productivity by developing innovation, improving skills, boosting competition and attracting jobs and investment.
Glasgow’s modern, diverse economy has strengths in a variety of sectors and sub-sectors. More than 48,000 businesses (28% of Scottish companies) make their home in the Glasgow city region, supporting 856,000 jobs (34% of Scottish total).
The city is home to an impressive ‘who’s who’ of blue chip companies, major global organisations and international SMEs. It is the UK’s third largest financial centre and ranks in the top 50 in the world. Some of the biggest names in global business and finance, international leaders in precision medicine and pharmaceuticals, research services, engineering and an impressive range of global brands call Glasgow home. Their presence endorses Glasgow’s status as a world-class business destination.
In the last 5 years, the number of enterprises in Glasgow has increased by approximately 25.9%, a larger percentage increase than both that of Scotland and the UK. This clearly demonstrates the entrepreneurial spirit and business friendliness of the city.